Over the years, the lead acid battery market has witnessed various product innovations including advanced lead acid batteries, absorbed glass mat, valve regulated lead acid batteries, sealed lead acid batteries, and others. The global automotive lead acid battery market is projected to register a CAGR of 4.2% in terms of value during the forecast period (2016 - 2026).

The growth of the global automotive lead acid battery market is influenced by a number of factors including increasing vehicle production resulting from a promising vehicle sales outlook in developing economies, increasing production of hybrid and electric vehicles, rising vehicle electrification, research and development collaborations, and stable automobile production. Low maintenance and replacement costs and growing adoption of advanced automotive technologies such as start-stop further contribute to the growth of the market. Key trends observed in the global automotive lead acid battery market include advancements in lead acid battery technology, reduction in battery size, and long-term supply contracts between battery suppliers and automotive OEMs.

The overall market approach adopted by manufacturers of automotive lead acid batteries includes strengthening of the supply chain particularly in regions such as Asia Pacific and Latin America. Manufacturers are also focused on developing high-quality automotive lead acid batteries adhering to regulations and OEM specific requirements. Suppliers of automotive lead acid batteries cater to the specific requirements of automakers, while adhering to high quality standards of production. A number of automotive lead acid battery suppliers have long-term suppliers’ contracts with OEMs for providing automotive lead acid batteries as per the specific requirements.

Market segmentation

Market projections based on region

The global automotive lead acid battery market covers five major regions -- Asia Pacific, North America, Latin America, Europe, and Middle East & Africa (MEA). In terms of value, Asia Pacific has been estimated to account for the largest share in the global automotive lead acid battery market – with over 33% market share in 2015 – followed by Europe and North America. Among all the regions, the Asia Pacific market is anticipated to register the highest CAGR over 2016 - 2026, followed by Middle East & Africa (MEA). The market in MEA is in the nascent stage, primarily due to low automotive production and vehicle parc.

The Asia Pacific region is expected to emerge as the fastest growing market in the global automotive lead acid battery market over the forecast period. The market in the region in terms of value is expected to expand at a CAGR of 6.4% over the forecast period. The Middle East & Africa automotive lead acid battery market is expected to expand significantly in terms of revenue after Asia Pacific. The market in the region is slated to grow at a CAGR of 5.5% during the forecast period. The markets in Latin America and North America are expected to expand at moderate CAGRs of 3.07% and 3.05% over the forecast period. The North America automotive lead acid battery market is expected to reach a value of US$ 6,720.4 Mn by 2026. In Europe, the automotive lead acid battery market is expected to be the slowest growing in the global automotive lead acid battery market. The market in the region in terms of value is expected to expand at a CAGR of 2.0% between 2016 and 2026.

This Future Market Insights (FMI) report examines the automotive lead acid battery market for the forecast period 2016 - 2026. The primary objective of the report is to identify opportunities in the market and present updates and insights pertaining to various segments of the automotive lead acid battery market. Automotive lead acid battery, also called starting, lighting, and ignition (SLI) battery, is a rechargeable battery mainly used for starting a vehicle’s engine and supplying electric current to an automobile. Most automobiles use lead acid batteries as an SLI battery. While other types of batteries are also available in the market, their usage is mostly restricted to hybrid and electric vehicles.

To understand and assess market opportunities, this report is categorically divided into four sections with segmentations based on battery type, vehicle type, sales channel, and region. The report analyses the automotive lead acid battery market in terms of market volume and market value. The report also covers the automotive lead acid battery market performance in terms of value and volume contribution. Also included is FMI’s analysis of key drivers, restraints, and opportunities witnessed in the market. The report further highlights key market trends that provide the reader pertinent insights for informed decision making.

The final section of the report focuses on the competitive landscape in the automotive lead acid battery market to provide a dashboard view of leading automotive lead acid battery companies. The report also contains company profiles of some of the major players in this market.

Research Methodology

To deduce market size, the report considers various aspects based on secondary research. Data points such as region-wise split and market split by battery type, vehicle type, sales channel, and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated and expected revenue of the automotive lead acid battery market over the forecast period. When developing the market forecast, the report begins by sizing up the current market, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, FMI triangulates the data via different analyses based on supply side, demand side, and the dynamics of the automotive lead acid battery market. However, quantifying the market across the abovementioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the forecast has been completed.

It is imperative to note that in an ever-fluctuating economy, we not only provide forecasts in terms of CAGR, but also analyse on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand predictability of the market and identify the right opportunities. Another key feature of this report is the analysis of the automotive lead acid battery market and the corresponding revenue forecast in terms of absolute dollar opportunity. Absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as to identify potential resources from a sales perspective. To understand key segments in terms of their growth and performance in the automotive lead acid battery market, Future Market Insights has developed a market Attractiveness Index to help providers identify existing market opportunities.

Market segmentation

By Sales Channel

By Vehicle Type

By Battery Type

By Region

OEM

Aftermarket

Passenger Car

ICE

Hybrid

Electric

Light Commercial Vehicle

ICE

Hybrid

Flooded Battery

Enhanced Flooded Battery (EFB)

Absorbent Glass Mat (AGM) Battery

Asia Pacific

North America

Latin America

Europe

Middle East & Africa (MEA)

Featured market players

Enersys Inc.

Johnson Control Inc.

GS Yuasa Corporation

Panasonic Corporation

Leoch International Technology Ltd.

Exide Technologies

East Penn Manufacturing Company

CBS Battery Technologies

Exide Industries

FIAMM SpA

In the wake of increasing competition, key market players are collaborating with other companies in the supply chain or acquiring them to enhance their product offerings in the market. These companies are also launching new products in the market to broaden their product offerings globally.